There is an opportunity to purchase a 5,107 sf commercial office space in The Capital within the Bandra Kurla Complex, Mumbai for an all-in cost of Rs. 18,87,00,000 (Rs. 36.949 per sf) which implies a 8% inplace yield and a 20% discount to what the developer is quoting.

The Capital is a 1.2 mn sf Grade A+ office building located in Mumbai’s central business district – Bandra Kurla Complex and houses the India headquarters of Deutsche Bank. It is arguably one of the top 3 office developments in BKC.

We believe the pricing, location, tenant, rental yield and quality of the development will lead to significant upside over the next 4-5 years.

LOCATION

FINANCIAL MODEL

100%

INVESTMENTAMOUNT

42%

RENTS

2%

INTEREST ONDEPOSIT

61%

PROFIT

205%

TOTAL

Return Target : 17.2%

PRICING

₹ 18,87,00,000

Purchase Price

Stamp Duty

Registration

Brokerage

Legal Fee

Cess

Reserve

Purchase Price
₹ 17,46,59,400

Stamp Duty
87,32,970

Registration
30,000

Brokerage
34,93,188

Legal Fee
6,00,000

Cess
8,75,000

Reserve
3,09,442

All in price
₹ 18,87,00,000

LOCATION HIGHLIGHTS

Bandra Kurla Complex is Mumbai’s ﬁnancial centre and the preferred location for all blue chip ﬁnancial and investment ﬁrms. It houses headquarters of the National Stock Exchange, SEBI, large public and private sector banks, international consulates, ﬁve star hotels, international schools and convention centres.

FLOOR PLAN HIGHLIGHTS

Well laid out floor divisible into 4 separate office with lifts in the middle and bathrooms in the four corners.

ALL-IN PRICE

₹ 18,87,00,000

Purchase Price

Stamp Duty

Registration

Brokerage

Legal Fee

Cess

Reserve

ALL-IN PRICE

Purchase Price
₹ 17,46,59,400

Stamp Duty
87,32,970

Registration
30,000

Brokerage
34,93,188

Legal Fee
6,00,000

Cess
8,75,000

Reserve
3,09,442

All in price
₹ 18,87,00,000

MONTHLY RENT DISTRIBUTION

₹12,10,359

gross rent

₹66,391

property tax

₹1,57,040

property management fee

₹9,86,928

net rent

Annual Yield : 8%

TENANT OVERVIEW

LEASE START DATE
01 Jan 2017

LOCK-IN PERIOD
2 YEARS

LEASE END DATE
01 Jan 2022

TOTAL AREA
5,107 SF

RENT PER SF
₹ 237

LEASE PERIOD
5 YEARS

ESCALATION
15%

TENANT DETAILS

Name
: Clix Capital

Country
: India

Office Locations
: Mumbai, Gurugram, Bengaluru

Description
: Clix Capital is an NBFC cum private equity fund with $300 million Assets Under Management (AUM) backed by AION Capital a $1.5 billion fund that took over GE Capital’s business in India. It is run by Pramod Bhasin, ex CEO and President of GENPACT.

Investment in real estate involves a degree of risk and investors should not invest any funds unless they can afford to take the risk of losing their investment. For taking an investment decision, investors must rely on their own examination of the property including the risks involved.